Canadian Halal Investor.

NYSE Shariah screener · October 2026

Is Public Storage (PSA) Halal?

PASS

Public Storage · NYSE: PSA · Real Estate

The short answer

Yes -- Public Storage (PSA) passes this Shariah stock screen at all three gates. Per its own FY2025 10-K, Public Storage is a Maryland REIT whose core business is owning, developing, and operating self-storage facilities (3,171 consolidated facilities in 40 U.S. states at December 31, 2025) -- renting storage space is a permissible business activity, and the company is not engaged in conventional banking or lending, alcohol, gambling, pork, tobacco, or weapons. Its disclosed interest income of $36.617M for FY2025 is about 0.76% of its $4,824.113M in total revenue, under the 5% non-compliant income ceiling. Its debt screen passes: $10,253.9M of notes payable is about 20.57% of its ~$49.84B market cap ($284.00, latest close retrieved October 2, 2026), below the ~33% ceiling. Note that two third-party screeners disagree with this outcome: Zoya flags PSA not Shariah-compliant and Musaffa rates it not halal (both as of October 2026); ShariaPortfolio has no PSA coverage -- all honestly reported, not invented. This is a factual screen, not a religious ruling.

Gate 1 — Business activity: PASS

Public Storage (NYSE: PSA), a Maryland REIT headquartered in Glendale, California, describes its business in its FY2025 10-K as the ownership, development, and operation of self-storage facilities, with related operations including tenant reinsurance, third-party self-storage management, and bridge lending to third-party self-storage owners. At December 31, 2025, it consolidated 3,171 self-storage facilities (about 229 million net rentable square feet) across 40 U.S. states, and holds about a 35% equity interest in Shurgard Self Storage Limited (seven Western European countries). Business screen (factual, from the filing): its core business is renting self-storage space -- real estate rental, a permissible activity -- and it is not engaged in conventional banking or lending, insurance underwriting (the tenant-reinsurance program is an ancillary operation), alcohol, gambling, pork, tobacco, or weapons. Gate 1 passes. Facts only.

Gate 2 — Debt and cash: PASS

Per Public Storage's FY2025 10-K (fiscal year ended December 31, 2025), interest-bearing debt -- notes payable of $10,253.9M ($8.2B U.S. dollar-denominated unsecured notes, $2.1B Euro-denominated unsecured notes, plus a small mortgage balance) -- against a market cap of about $49.84B ($284.00 latest close retrieved October 2, 2026; 175,506,447 common shares outstanding per the 10-K cover as of February 5, 2026), is about 20.57% -- below the ~33% ceiling. Cash and equivalents of $318.1M are about 0.64% of market cap. Gate 2 passes. Facts only.

Gate 3 — Non-compliant income: PASS

Public Storage's FY2025 10-K discloses an Interest and other income table: interest earned on cash balances of $31.543M plus interest earned on notes receivable, net of $5.074M -- the two pure-interest lines -- totaling $36.617M, against total revenues of $4,824.113M -- about 0.76% of revenue, well below the 5% ceiling. Even the full $63.099M Interest and other income line (about 1.31% of revenue) stays below the ceiling. Gate 3 passes. Facts only.

Key figures used

Frequently asked questions

What does Public Storage do?

Public Storage (NYSE: PSA), headquartered in Glendale, California, describes itself in its FY2025 10-K as a Maryland real estate investment trust (REIT) engaged in the ownership, development, and operation of self-storage facilities, plus related operations including tenant reinsurance, third-party self-storage management, and bridge lending to third-party self-storage owners. At December 31, 2025 it held interests in and consolidated 3,171 self-storage facilities totaling about 229 million net rentable square feet in 40 U.S. states, making it the largest U.S. owner of self-storage facilities. It also holds about a 35% equity interest in Shurgard Self Storage Limited, which operates self-storage facilities in seven Western European countries. Its common shares have been listed on the NYSE since October 19, 1984.

Why does Public Storage pass this Shariah stock screen?

Public Storage passes all three gates of the screen applied on this site. Gate 1 (business activity) passes: per its own FY2025 10-K, its core business is owning and operating self-storage facilities -- rental of real estate space, a permissible business activity -- and it is not engaged in conventional banking or lending, alcohol, gambling, pork, tobacco, or weapons. Gate 2 (debt) passes: $10,253.9M of notes payable is about 20.57% of its ~$49.84B market cap, below the ~33% ceiling. Gate 3 (non-compliant income) passes: disclosed interest income of $36.617M is about 0.76% of its $4,824.113M total revenue, below the 5% ceiling. This is a factual screen, not a religious ruling -- consult a qualified scholar for personal rulings. Note: this page's own filing-based screen passes PSA even though two third-party screeners currently flag it as not compliant, which is reported honestly below.

What is Public Storage's interest-bearing debt ratio?

Per Public Storage's FY2025 10-K (fiscal year ended December 31, 2025), notes payable -- $8.2B U.S. dollar-denominated unsecured notes, $2.1B Euro-denominated unsecured notes, and a small mortgage balance -- were $10,253.881M at December 31, 2025. Against a market cap of about $49.84B ($284.00 latest close retrieved October 2, 2026; 175,506,447 common shares outstanding per the 10-K cover as of February 5, 2026), debt divided by market cap is about 20.57% -- below the ~33% ceiling. Cash and equivalents of $318.1M are about 0.64% of market cap. Gate 2 passes.

What is Public Storage's non-compliant income ratio?

Public Storage's FY2025 10-K discloses an 'Interest and other income' table: interest earned on cash balances ($31.543M) plus interest earned on notes receivable, net ($5.074M) -- the two pure-interest lines -- total $36.617M, against total revenues of $4,824.113M for FY2025 -- about 0.76% of revenue, below the 5% non-compliant income ceiling. The full 'Interest and other income' line including commercial operations, unrealized gains on private equity investments, and other items is $63.099M (about 1.31% of revenue), which is also below the ceiling. Gate 3 passes.

Do Zoya, Musaffa, or ShariaPortfolio cover Public Storage?

Zoya covers PSA at zoya.finance/stocks/psa and flags it as not Shariah-compliant (the page's displayed assessment date was blank when accessed in October 2026); Zoya's own figures agree with this page's filing numbers -- FY2025 revenue $4,824.113M and interest income $36.617M (0.76%). Musaffa covers PSA at musaffa.com/stock/PSA/ and classifies it as not halal as of October 2026 under its AAOIFI methodology, without giving a reason. No ShariaPortfolio screener page for PSA was found in October 2026 -- it appears to offer no coverage of this ticker. This page's own screen, applied directly from Public Storage's audited 10-K, passes all three gates, so the third-party positions are reported honestly even though they disagree with this page's PASS outcome.

Sources

Screened 2026-10-02 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).